NextEra Energy and Dominion Energy have submitted revised proposals to Virginia regulators seeking approval for their $67 billion merger.
The companies accepted 101 of the 117 conditions proposed by Virginia State Corporation Commission staff and the attorney general’s office. They also agreed to 13 additional conditions with modifications.
The revised offer includes stronger financial and governance safeguards to keep Dominion Energy Virginia financially separate. It also provides for more independent oversight and local representation on the utility’s board.
The companies would provide four years of shareholder-funded residential bill credits. They also committed $100 million to energy assistance and another $100 million to workforce development.
They pledged to create 1,000 new jobs and maintain Dominion’s current Virginia employee headcount for at least five years.